Canyon Putting "Several Billions" To Work In Credit After Recent Sell-Off; Defends Record As Fund Cuts Fees

When the credit markets sold off in early 2016, the hedge fund run by Mitch Julis and Joshua Friedman’s Canyon Value Realization Fund, L.P., saw investing opportunity that they believed would materialize later as the drawdown would find bottom and recover. In part, they may have achieved part of this investment goal in the third quarter. The credit fund was up 4.00% in the third quarter, bringing the year-to-date estimated net return 6.93% as of September 30, according to a letter to investors reviewed by ValueWalk. Also see Canyon Capital: The Debt Markets Are Sending A Warning Q2 2016 – Hedge Fund…